Netflix to Expand Password Sharing Programme to More Countries, Including the US, in Q2 2023

Netflix will be expanding its password sharing to more countries, including the United States (US), in the second quarter of 2023, according to the company’s financials for the first quarter of 2023 which ended on March 31, 2023. It did not say whether India was included in the list but clarified that it will not shy away from holding back the roll-out in countries where it followed a “different approach”. The company stopped short of detailing the list of countries but its senior executives contended that the launch will be “broad” during an earnings call. It pointed out that the pricing of this programme is being evaluated on a “market-by-market” basis. The company’s co-CEO Gregory Peters said that the programme’s roll-out in countries such as Canada went “well” and the reaction was consistent with the company's trial in countries such as Chile and Peru. Peters added that the company faces pushback initially but it proceeds to build its base once the dust around cancellations settles down. The company’s chief financial officer, Spencer Neumann, also explained that the company was facing no incremental costs due to this programme. Why it matters: It is important to note its disclosures because it is one of the most popular streaming platforms across the world. The financials are noteworthy because they detail the company's efforts to stave off stiff competition from various companies for user engagement. They also offer insight into how the streaming sector is doing in the face of a global economic slowdown.…